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LMRI T/A

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LMRI T/A

Re: RKD1953 post# 7498

Friday, 12/29/2006 8:05:47 PM

Friday, December 29, 2006 8:05:47 PM

Post# of 10398
3k rule applies

only to 'net capital loss' for yr 06 after having offset all ur capital gains .. eg if u made 40k and lost 50k on capital gains/losses ur net loss is only 10k .. out of that u can use 3k a yr to offset ur ordinary income .. eg if u make 10k on capital gains next yr 7k would be deducted (10k net loss minus 3k deduction) and ur net gain would be 3k ..

jmoeom

"By your great skill in trading you have increased your wealth, and because of your wealth your heart has grown proud." Ezekiel 28:5

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